Another CU sells its credit card portfolio

<p>CHAMBERSBURG, Pa. – Credit card portfolio sales are still on the rise in 2002. Recently, Patriot Federal Credit Union, has sold its credit card portfolio through AssetExchange, which handled the data preparation, marketing, bidding and transaction process for the sale. “Our top priority was to select a buyer with an exceptional reputation who could bolster the options and services available to our members, without diminishing the customer service our members have come to expect,” said PFCU CFO Lisa Johnston. “The sale of our credit card portfolio will enable us to dedicate our credit union funds and staffing resources to servicing other programs that are strategic to our ongoing growth. This is truly a win-win situation for Patriot and for each of our members.” Patriot FCU will retain its brand on the cards and will work with portfolio acquirer to increase the number of cardholders and provide enhanced card services to credit union members.</p>